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Empresa Agrí­cola Sintuco swings to loss in Q2

Empresa Agrícola Sintuco SA said its second-quarter normalized net income came to a loss of 998,750 soles, compared with income of 18,750 soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 39.5% from 8.7% in the year-earlier period.

Total revenue increased on an annual basis to 1.5 million soles from 215,000 soles, and total operating expenses increased on an annual basis to 3.2 million soles from 184,000 soles.

Reported net income totaled a loss of 655,000 soles, or a loss of 19 céntimos per share, compared to a loss of 303,000 soles, or a loss of 9 céntimos per share, in the prior-year period.

As of July 30, US$1 was equivalent to 3.18 soles.